Senator Marco Rubio (R-FL) introduced legislation this week that “requires the Obama administration to cut $45 billion in unused taxpayer dollars sitting in federal coffers,” according to a press release from his office.
It’s called the Decrease Spending Now Act.
Introduced in the U.S. House by Congressman Tom Price (R-GA), the bill requires that the Director of the Office of Management and Budget (OMB) rescind funds from unobligated balances of discretionary appropriations and report to Congress and the Secretary of the Treasury on these efforts within 60 days. The legislation would not affect discretionary funds for the Defense Department, Veterans Affairs and Social Security Administration. A recent OMB report found over $700 billion in unobligated funds, money sitting unspent by federal agencies.
Some background on support for this idea:
In the Senate, 81 Senators – including 34 Democrats – are already on record in support of requiring the administration to find almost $45 billion in budget rescissions. As part of S.223, the FAA Reauthorization, the Senate overwhelmingly voted for an amendment offered by Senator Debbie Stabenow (D-MI) that would have repealed the ObamaCare 1099 provision and paid for the repeal by requiring the OMB Director to produce a package of nearly $45 billion in budget rescissions of unobligated funds.